News Desk: 

After thorough deliberations, the International Monetary Fund (IMF) approved $ 3 billion loan for Pakistan on Wednesday.

The global lender said that the programme would focus on the “implementation of the FY24 budget to facilitate Pakistan’s needed fiscal adjustment and ensure debt sustainability”.

The approval allows for an immediate disbursement of $1.2 billion. “The remaining amount will be phased over the programme’s duration, subject to two quarterly reviews,” it added.

Last month, the IMF had reached a staff-level pact with Pakistan on a $3 billion Standby Arrangement, a decision long awaited by the country, which is teetering on the brink of default.


More to follow

Leave a Reply

Your email address will not be published. Required fields are marked *

About the Author

Quetta Voice is an English Daily covering all unfolding political, economic and social issues relating to Balochistan, Pakistan's largest province in terms of area. QV's main focus is on stories related to education, promotion of quality education and publishing reports about out of school children in the province. QV has also a vigilant eye on health, climate change and other key sectors.